Japan's Nova Corp, the nation's biggest operator of English language schools, is considering several offers to form a business or capital alliance, the daily Yomiuri Shimbun said on Saturday. Nova was forbidden on Wednesday to sign up long-term students for six months as punishment for misleading prospective students about its services.
Shares in the company - a household name in Japan - tumbled 10 percent on the news. In an interview with the Yomiuri, Nova president Nozomu Sahashi said his company has received several offers from "various places" to form a business or capital tie-up.
"We have to restore trust, so we are considering the offers," Sahashi was quoted as saying, but added that Nova had not sought out the offers itself. He said the company might also consider selling off some real estate in Osaka but was otherwise optimistic about the company's finances and said no help would be needed from finance organisations, the Yomiuri said.
Sahashi did not specify what sort of companies had made the offers, but the Yomiuri said they included retail firms. Company officials were not available for comment.
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